US Sanctions Iran-Linked Crypto Wallets, Freezes $344 Million

The United States Treasury Department announced on Friday that it has sanctioned multiple cryptocurrency wallets linked to Iran, resulting in the freeze of approximately 344 million in digital assets. The action, coordinated with stablecoin issuer Tether, targets funds authorities say are connected to the Iranian regime's efforts to evade sanctions, as part of ongoing financial pressure amid heightened tensions between Washington and Tehran.

Treasury Secretary Scott Bessent stated that the sanctions, imposed by the Office of Foreign Assets Control, aim to disrupt Tehran's financial networks. "We will follow the money that Tehran is desperately attempting to move outside of the country and target all financial lifelines tied to the regime," Bessent said in a public statement. The frozen assets consist of USDT, a Tether stablecoin, held in two addresses on the Tron blockchain, totaling about 213 million and 131 million respectively. Tether executed the freeze on Thursday after receiving information from U.S. authorities about transactions flagged for unlawful activity.

A U.S. official explained that investigators, using blockchain analysis, identified links between the wallets and...